Hey Bill, what’s the point of doing something when it doesn’t fix anything?

Home buyers will pay higher rates and water bills under a new $600 million scheme to address Auckland’s housing crisis.

The Government today announced a new investment vehicle to bring forward construction of 23,300 new homes in the north and south of the city.

Prime Minister Bill English launched Crown Infrastructure Partners with $600m to fund transport and water infrastructure for big new housing developments which cash-strapped councils like Auckland Council cannot afford.

“This is the result of a lot of hard work by councils and central government in how to manage growth on a scale we haven’t had to before [with] a new type of financing vehicle,” English said.

The Government and private investors will recoup their investment by charging new residents a special targeted rate and higher water bills over a 20 to 30-year period.

So the answer to expensive houses is to make them more expensive and place a targeted rate on the property so that living there is more expensive and selling it to someone else is less attractive.

I honestly can’t see how this forms any kind of worthwhile solution to anything.

The problem is, and always has been, zoning restrictions and the RMA act.   Until these two monsters have been slain, doing anything else… is election window dressing.

 

– Bernard Orsman, NZ Herald


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